Make collections in inflationary or recessionary times for any organization is a difficult problem high risk and should be discussed and considered by both the Executive Management as the area when choosing their clients.
In times of recession, the credit factors and conditions are restricted by the serious distortions and illiquidity of the system, making it difficult to collection by the customer's inability to pay, and in many cases if there is no recovery run Those debts were to be part of the bad debt.
For these circumstances, from the standpoint of organizational and legal, is that the employer should consider the following suggestions to successfully face this situation if you want your collection to fulfill its goal:
9.1. PERMANENT BUILDING
constant capacity collection staff is an important factor in the operational development of the collection, changing conditions and unstable economic and financial policies, put in a bad position the company in general and trade in particular by the limited knowledge of collection techniques that allow them to make quick decisions that may result in temporary closure of the company that necessarily sold on credit.
9.2. EFFECTIVE COMMUNICATION
An effective and efficient communication is the backbone of the entire collection process, namely timely information it requires the client's situation is important for the company to take decisions in time and so avoid those circumstances that the collection becomes slow or difficult. Not without saying that all communication Collection is welcomed either by the formal and informal means.
9. 3. STIFFNESS
payment conditions must be specified in the loan transaction documents, the lack of this information by the customer, may cause disruption in the recovery of debt, money the company needs to meet its obligations in the short term.
therefore should not be given time to client to place objections to the payment or rules established beforehand. Therefore plays an important role here interviews collection and preventive actions that the company should establish in advance.
9.4. IMMEDIATE SETTLEMENT
All delinquent account has two alternatives: one is to exhaust all instances of recovery, recovering the value of the debt installment payments and the other is that and come to a payment transaction, with full or partial reimbursement of the merchandise if it still exists, (contract with property retention), so that the debtor shall return all the merchandise has not sold and the balance payable upon transaction, or otherwise in the near future. If I had a contract with collateral or by a guarantor or surety, the arrangement should be conditional to raise the top of the guarantee or enforce the securities.
In either case, the transaction is more advisable to get into litigation. Economically speaking it is preferable to reach an early settlement and avoid additional costs, seeking recovery of the debt on favorable terms for the company and able to meet our obligations and maintain our solvency.
In times of recession, the credit factors and conditions are restricted by the serious distortions and illiquidity of the system, making it difficult to collection by the customer's inability to pay, and in many cases if there is no recovery run Those debts were to be part of the bad debt.
For these circumstances, from the standpoint of organizational and legal, is that the employer should consider the following suggestions to successfully face this situation if you want your collection to fulfill its goal:
9.1. PERMANENT BUILDING
constant capacity collection staff is an important factor in the operational development of the collection, changing conditions and unstable economic and financial policies, put in a bad position the company in general and trade in particular by the limited knowledge of collection techniques that allow them to make quick decisions that may result in temporary closure of the company that necessarily sold on credit.
9.2. EFFECTIVE COMMUNICATION
An effective and efficient communication is the backbone of the entire collection process, namely timely information it requires the client's situation is important for the company to take decisions in time and so avoid those circumstances that the collection becomes slow or difficult. Not without saying that all communication Collection is welcomed either by the formal and informal means.
9. 3. STIFFNESS
payment conditions must be specified in the loan transaction documents, the lack of this information by the customer, may cause disruption in the recovery of debt, money the company needs to meet its obligations in the short term.
therefore should not be given time to client to place objections to the payment or rules established beforehand. Therefore plays an important role here interviews collection and preventive actions that the company should establish in advance.
9.4. IMMEDIATE SETTLEMENT
All delinquent account has two alternatives: one is to exhaust all instances of recovery, recovering the value of the debt installment payments and the other is that and come to a payment transaction, with full or partial reimbursement of the merchandise if it still exists, (contract with property retention), so that the debtor shall return all the merchandise has not sold and the balance payable upon transaction, or otherwise in the near future. If I had a contract with collateral or by a guarantor or surety, the arrangement should be conditional to raise the top of the guarantee or enforce the securities.
In either case, the transaction is more advisable to get into litigation. Economically speaking it is preferable to reach an early settlement and avoid additional costs, seeking recovery of the debt on favorable terms for the company and able to meet our obligations and maintain our solvency.
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